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DNA-testing company 23andMe soared in the early cash session in New York on news that Anne Wojcicki, the CEO, plans to take the struggling company private after three years on the public markets. The company once sported a $6 billion valuation and has since collapsed to $235 million.

Wojcicki's big announcement was made in a public filing late Wednesday. The filing stated that she "is considering making a proposal to acquire all of the outstanding shares of 23andMe."

The filing noted that she would reject any other buyer taking over the company. Her ownership stake is around 20% of the total outstanding shares. This means she controls 49.99% of the company's voting power, making it impossible for anyone to purchase the human genetics and biopharmaceutical company. . .

>DNA-testing company 23andMe soared in the early cash session in New York on news that Anne Wojcicki, the CEO, plans to take the struggling company private after three years on the public markets. The company once sported a $6 billion valuation and has since collapsed to $235 million. >Wojcicki's big announcement was made in a public filing late Wednesday. The filing stated that she "is considering making a proposal to acquire all of the outstanding shares of 23andMe." >The filing noted that she would reject any other buyer taking over the company. Her ownership stake is around 20% of the total outstanding shares. This means she controls 49.99% of the company's voting power, making it impossible for anyone to purchase the human genetics and biopharmaceutical company. . . [Archive](https://archive.today/T8THU)

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[–] [deleted] • 2 pts

Well played Wojcicki, well played.

I was wondering why she was being so obstinate and obnoxious a couple years ago with the news that the company was using peoples DNA samples to create drugs to sell back to them.

She was intentionally tanking the over-inflated value of the company by torpedoing the pop-culture's perception of the company.

Now that the valuation has corrected, she's buying it out on the dip. That way she can achieve complete autonomy over the medical data of tens of millions of people (idiots). She will have all the control to create whatever drug patents that she can then sell to larger pharma corps.

Brilliant.